One of the fha rules for the roof requires the appraiser to report if it has less than 2 years remaining life and require it to be replaced.
Fha roof less than 2 years.
When the appraiser struggles to view the roof the appraiser must explain why the roof is unobservable and report the results of the assessment of the underside of the roof the attic and the ceilings.
But that s not all the fha also requires a minimum amount of durability.
The condition must clearly state whether the subject is to be repaired or re roofed.
The roof should have a remaining physical life of at least two years.
If the roof has less than two years remaining life then the appraiser must report this condition in the appraisal report.
The appraiser must clearly state whether the subject is to be repaired or re roofed.
The roof should have a remaining physical life of at least two years.
If the roof has less than two years remaining life then the appraiser must report this condition in the appraisal report.
The roof should have a remaining physical life of at least two years.
The roof should have a remaining physical life of at least two years.
Page 489 adds the following.
The appraiser must report if the roof has significantly less than 2 years of remaining life and make the appraisal susceptible to inspection with a professional roofer.
If the roof has less than two years remaining life then the appraiser must call for re roofing or repair.
This of course is a judgment call that the appraiser is required to make.
The fha official site adds the roof should have a remaining physical life of at least two years.
Depending on the nature of the loan and other factors.
The appraiser must exercise sound judgment when evaluating roof condition.
The appraiser must exercise sound judgment when evaluating roof condition.
The general rule for home loan approval is that the lender wants to see two years of work history.
Fha home loans with less than two years of employment.
The roof must also provide reasonable future utility durability and economy of maintenance according to fha rules.
If it is determined that the roof has a remaining life of less than two years then it would be the responsibility of the appraiser to call for repair or the construction of a new roof.
To be specific the following has been taken from the hud handbook 4000 1 regarding the fha rules for the roof.
A home inspection paid for by the borrower would include a closer look at the roof than what is required here by hud 4000 1.
The appraiser must report if the roof has less than two years of remaining life and make the appraisal subject to inspection by a professional roofer.
4905 1 rev 1 2 12 life expectancy.
4905 1 rev 1 2 12 life expectancy.
If the roof has less than two years remaining life then the appraiser must call for re roofing or repair.
